New Rules Limit Some Credit Card Fees, But Banks Create Others

The new year is bringing new credit card rules, and when the Credit Card Act of 2009 goes into effect next month, it will place greater limitations on card issuers. Among the limitations: banks won't be allowed to raise interest rates on balances that aren't 60 days late, and they'll be required to provide more disclosure to their customers. While consumers may cheer, they should be aware that credit card companies have been preparing for the changes, and have implemented new policies and fees...Full Story
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